Curaleaf Sued Over $181 Million Acquisition of Reef Dispensaries

Former owners of Reef Dispensaries sued Curaleaf Holdings Inc., which bought the Southwest-based marijuana chain for $181 million, over claims that the cannabis giant is trying to help itself to a nearly $13 million discount without an explanation.

The lawsuit in Delaware’s Chancery Court says Curaleaf is breaching provisions of the sale agreement that require the country’s largest retail cannabis business to back up its post-closing price adjustment with robust documentation so the two sides can submit any dispute to an independent accountant.

“Curaleaf sought to eviscerate the value of the transaction,” according to the court filing made public Monday. ...